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Bitwise CIO Matt Hougan anticipates a surge in institutional interest in altcoins by 2025, driven by potential regulatory clarity and the rise of exchange-traded funds (ETFs). He notes that as institutions diversify their crypto investments beyond Bitcoin, strategies for diversified exposure will become mainstream, similar to traditional asset classes. Recent inflows into Ethereum ETFs indicate a growing trend, suggesting that institutional investors will increasingly explore other cryptocurrencies.
Bitcoin has fallen below $100,000, raising questions about whether this is the end of the bull market or a healthy correction. Analysts attribute the decline to market makers' strategies and predict a bounce back to $101,000, supported by strong buying in the $93,788-$92,200 range.Meanwhile, BlackRock's significant investments in Bitcoin, including a $1.5 billion purchase, highlight institutional confidence in the cryptocurrency, contrasting with broader market selling. The Fear and Greed Index remains in the 'greed' zone, suggesting many view the dip as a buying opportunity.
Ethereum (ETH) is showing signs of recovery after a significant price drop, with crypto whales accumulating 8,440 ETH worth $28.43 million during the rebound. Currently trading near $3,475, ETH has regained crucial support at $3,400, and if it surpasses $3,500, it could potentially rise by 17% towards the $4,000 mark. Market sentiment remains bullish, suggesting a promising outlook for the cryptocurrency.
As cryptocurrency adoption rises, alternatives to the now-bankrupt Celsius Network are gaining traction. Top contenders include Nexo, YouHodler, MyCointainer, and Crypto.com, offering competitive interest rates on crypto holdings, with APYs reaching up to 12% on stablecoins. These platforms provide various features, such as no lock-in periods and mobile apps, catering to diverse investor needs.
The cryptocurrency market has faced significant liquidations, with 361,972 traders losing $1.17 billion in the past 24 hours. A notable whale lost $15.8 million as Ethereum's price dipped to $3,432.70, while another whale, linked to Longling Capital, seized the opportunity to acquire 6,000 ETH, accumulating a total of 75,400 ETH since May 2023.Institutional interest remains strong, highlighted by Ethereum spot ETFs recording a net inflow of $2.45 million over 18 consecutive days, with BlackRock’s Ethereum ETF seeing $81.9 million in net inflows. These developments reflect growing confidence in Ethereum's long-term potential amidst market volatility.
As Bitcoin shows signs of recovery amid a downturn, market analysis highlights the significance of leverage ratios on exchanges. Binance maintains strong reserves relative to its open interest, while smaller exchanges like Gate.io and Bybit face higher leverage risks. Additionally, the Coinbase Premium, currently negative, suggests traders should remain cautious, as it indicates weaker institutional demand.
Over the past three years, around 120 crypto hedge funds, representing 75% of those surveyed, have faced significant banking challenges, including relationship terminations and vague explanations from banks. This situation has fueled discussions about "Operation Chokepoint 2.0," an alleged initiative by the Biden administration to restrict banking access for the crypto industry. While affected funds eventually found banking partners, they often turned to smaller, regional institutions.
Experts predict that Solana (SOL) may drop below $200 before a potential rebound, while Ripple (XRP) shows resilience amid market declines. IntelMarkets (INTL), a new AI-driven cryptocurrency, has gained significant traction, soaring over 700% since its launch and attracting attention as a promising investment opportunity.
Ethereum is under pressure following a $200 million sell-off by whales, leading to a 4% drop in price to $3,683. With significant resistance at $3,800-$3,900 and a slowdown in institutional demand, the market faces challenges unless buying interest resurfaces. Liquidations reached $124 million, indicating bearish sentiment persists.
The Manufacturers Life Insurance Company increased its stake in Lennar by 1.3%, now holding 5.9 million shares valued at over $1.1 billion. Institutional investors own 81.10% of Lennar, which has received mixed ratings from analysts, with a consensus "Hold" and an average target price of $175.94. Recently, UBS Group lowered its price target for Lennar from $225 to $205, suggesting a potential upside of nearly 49%.
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